Signing the transatlantic free-trade agreement could increase Europe’s energy security. The trick is how to compete with American companies that are already using cheaper energy and don’t have to comply with the same restrictions on CO2 emissions. The 10th round of negotiations of the Transatlantic Trade and Investment Partnership agreement, or TTIP as it is known, was held in Brussels in July 2015 ...
SyCipLaw Partner Leslie C. Dy participated in the World Bank Group’s Women, Business and the Law 2016: Getting to Equal. The 2016 edition, the fourth in the series, continues to cover and collect data about legal restrictions on women’s entrepreneurship and employment. The series aims to inform policy discussions and promote research on linkages between the law and women’s economic opportunities ...
The staff of the Securities and Exchange Commission’s Division of Corporation Finance, in connection with its review of periodic reports filed by exploration and production (E&P) companies in 2015, has recently issued a number of comment letters to these companies asking them to quantify the impact of low commodity prices on their proved reserves and results of operations ...
The Interior Board of Land Appeals (“IBLA”) has issued its long awaited decision on an appeal by an offshore service contractor challenging the authority of the Bureau of Safety and Environmental Enforcement (“BSEE”) to issue a citation directly to the service company for a violation of federal offshore regulations. As the first formal opinion issued by any appellate body on the issue, the IBLA decision has widespread implications for the offshore services industry ...
Under Minister of Energy and Mineral Resources Regulation No. 23 of 2015 dated 31 July 2015 on the Delegation of Authority to Issue Oil and Gas Business License in the Framework of One-Stop Integrated Services to the Head of BKPM (“Regulation 23/2015”), the Minister of Energy and Mineral Resources has delegated its authority to issue oil and gas business licenses for capital investment to the Head of BKPM ...
On 15 July 2015, the Indonesian Capital Investment Coordinating Board (Badan Koordinasi Penanaman Modal or “BKPM”) issued a circular letter on the new mechanism and procedures for obtaining Principle License applications, aimed particularly at businesses in the consultancy services sector, as an effort to boost investors’ commitment and investment realization (formally, Circular Letter No ...
As an update to our previous Newsletter regarding Regulation No. 17/3/PBI/2015 regarding the Obligation to Use Rupiah in the Territory of the Republic of Indonesia (“BI Regulation”), Bank Indonesia (“BI”) has issued an implementing regulation regarding the mandatory use of Rupiah under BI Circular Letter No. 17/11/DKSP (“Circular 17”) ...
The Government of Indonesia has recently issued a series of regulations in an attempt to further regulate pension securities and amend the old age security programs in Indonesia, namely Government Regulation No. 45 of 2015 on the Management of the Pension Security Program (“GR 45/2015”) and Government Regulation No. 46 of 2015 as amended by Government Regulation No. 60 of 2015 on the Management of the Old Age Security Program (“GR 46/2015”) ...
As is commonly held by energy sector experts, the game-changing development of the shales and the resurgence of natural gas as a virtually new, huge, versatile, long-term fuel, with a shrinking environmental footprint, is based upon the synergistic deployment of several key technologies ...
The U.S. Securities and Exchange Commission (the “Commission”) is continuing to scrutinize municipal bond offerings and bring enforcement actions aimed at improving underwriter due diligence and increasing information to investors. On September 30, 2015, the Commission announced a second round of enforcement actions under the Municipalities Continuing Disclosure Cooperation (MCDC) Initiative, securing settlements against 22 underwriting firms ...
This week the European Union Court of Justice (“EUCJ”) struck down the U.S.-EU Safe Harbor Framework governing the transfer of personal data from the European Union to the United States that had been in place since 2000 (“Safe Harbor”).1 Case C-362/14, Schrems v. Data Prot. Comm’r, 2015 E.C.R. ---. Safe Harbor governed the most common set of requirements under which organizations could legally transfer personal data from EU member countries to the U.S ...
The issue of decarbonisation of the economies of EU member states, and in particular Poland, generates a lot of heat. Decarbonising the economy was named as one of the EU’s five energy priorities in the Commission communication entitled “A Framework Strategy for a Resilient Energy Union with a Forward-Looking Climate Change Policy.” In European Union documents, decarbonisation means elimination of CO2 emissions because of their harmfulness to the environment ...
On September 30, the U.S. House of Representatives passed a Continuing Resolution that will fund the government and extend the Immigrant Investor (EB-5) Pilot Program through December 11, 2015. The short-term extension will allow lawmakers seeking to reform the EB-5 program additional time to refine and advance legislation that would make investing in the program more difficult. To read the full alert, click here ...
Amendments to the Labour Relations Act, 66 of 1995 (“LRA”), which came into force in January of this year, introduced important and controversial provisions dealing with temporary employment services (“TES”), commonly known as labour brokers. The most important of these provisions is found in the newly-enacted section 198A. It makes a distinction between what can be regarded as the “acceptable” use of a TES services and the “unacceptable” use of its services ...
It is common knowledge that electricity is a main driver of the economy and a country’s electricity strategy will largely determine the long-term sustainability of an economy. The relationship between the Chinese economic miracle and the science behind the development of its electricity strategy is inseparable. Africa, as the centrepiece of development in the world, will require a practical strategy for electricity in order to guarantee the stable development of its economies ...
As cyber threats and news of data breaches make headlines, the Securities Exchange Commission (the “Commission”) has increased its expectations for investment advisers, broker-dealers, and funds to protect client information from hackers. On September 22, 2015, the Commission brought its first cybersecurity enforcement action against an investment adviser, sending a message to regulated entities. R.T. Jones Capital Equities Management, a St ...
Under longstanding regulations governing its risk management program, Bureau of Ocean Energy Management (“BOEM”) may require an offshore oil and gas lessee or operator operating on the Outer Continental Shelf (“OCS”) to provide additional security, over and above standard security requirements, if BOEM determines that the security is necessary to ensure compliance with OCS lease obligations ...
A few weeks ago now, "CBP" ("U.S. Customs and Border Protection") launched the new "C-TPAT" ("Custom-Trade Partnership Against Terrorism") Portal 2.0. For Canadian exporters who are members of C-TPAT, this requires that they bring themselves up to date without further delay so that they are in compliance on a timely basis with the new requirements and with the Portal's new method of operation ...
The president Correa sent to the National Assembly, the bill of law regarding Public Private Partnerships by the urgent procedure. A new governmental approach is starting to rise regarding private participation in sectors where the State became the sole protagonist ...
Lavery closely monitors new developments in consumer law and is committed to keeping the business community informed of the latest developments in this area of the law by regularly publishing newsletters dealing with new case law or legislative changes which may impact, influence, even transform practices in this area. The issue of accuracy in the advertising of prices by merchants is one which has received considerable attention ...
A few weeks ago now, "CBP" ("U.S. Customs and Border Protection") launched the new "C-TPAT" ("Custom-Trade Partnership Against Terrorism") Portal 2.0. For Canadian exporters who are members of C-TPAT, this requires that they bring themselves up to date without further delay so that they are in compliance on a timely basis with the new requirements and with the Portal's new method of operation ...
Since the Executive Decree N°1793 that was enacted in June of 2009, the investment regulations in Ecuador suffered a 180 degrees change. The limitations of classification to become a supplier to the state, and the mandatory authorization by the public entity for approving the transfer of the shares of the contractor to another company, limited the participation of foreign investors in the economy ...
Financial institutions are moving forward in their multidistrict litigation (“MDL”) lawsuit against Target following the company’s 2013 payment card breach. Last week, a Minnesota federal district court certified a class of approximately 9,000 banks and credit unions that issued payment cards affected by the breach. The ruling is the first to grant class certification in litigation following a payment card compromise.To read the full alert, click here ...
On 23 January 2015, the Supreme Court delivered a judgment concerning the moderation of an invalid non-competition clause in a business transfer agreement. This judgment arose after the Ghent Court of Appeal had refused to moderate a non-competition obligation lasting for period of 17 years.In line with previous case law, the clause was declared absolutely null and void and the Ghent Court of Appeal ruled that the clause could not be mitigated in any way ...
